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YOUNG & SONS DRYWALL, LP DEFINED BENEFIT PENSION PLAN 401k Plan overview

Plan NameYOUNG & SONS DRYWALL, LP DEFINED BENEFIT PENSION PLAN
Plan identification number 001

YOUNG & SONS DRYWALL, LP DEFINED BENEFIT PENSION PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

YOUNG & SONS DRYWALL, LP has sponsored the creation of one or more 401k plans.

Company Name:YOUNG & SONS DRYWALL, LP
Employer identification number (EIN):320132378
NAIC Classification:238300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan YOUNG & SONS DRYWALL, LP DEFINED BENEFIT PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01
0012015-01-01
0012014-01-01MARK YOUNG2015-05-18
0012013-01-01MARK W. YOUNG2014-09-09
0012012-01-01MARK YOUNG2013-10-10
0012011-01-01SHERRY SIMMONS2012-10-15
0012010-01-01MARK YOUNG2012-06-06

Plan Statistics for YOUNG & SONS DRYWALL, LP DEFINED BENEFIT PENSION PLAN

401k plan membership statisitcs for YOUNG & SONS DRYWALL, LP DEFINED BENEFIT PENSION PLAN

Measure Date Value
2016: YOUNG & SONS DRYWALL, LP DEFINED BENEFIT PENSION PLAN 2016 401k membership
Market value of plan assets2016-12-31528,214
Acturial value of plan assets2016-12-31528,214
Funding target for retired participants and beneficiaries receiving payment2016-12-310
Number of terminated vested participants2016-12-312
Fundng target for terminated vested participants2016-12-3115,467
Active participant vested funding target2016-12-31716,883
Number of active participants2016-12-3134
Total funding liabilities for active participants2016-12-31716,883
Total participant count2016-12-3136
Total funding target for all participants2016-12-31732,350
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-3117
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-3117
Present value of excess contributions2016-12-310
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-310
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-3113
Total employer contributions2016-12-31231,357
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31219,657
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-310
Net shortfall amortization installment of oustanding balance2016-12-31204,149
Waiver amortization installment2016-12-310
Waived amount of outstanding balance2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3133,730
Carryover balance elected to use to offset funding requirement2016-12-310
Prefunding balance elected to use to offset funding requirement2016-12-310
Additional cash requirement2016-12-3133,730
Contributions allocatedtoward minimum required contributions for current year2016-12-31219,657
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310

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